Tuesday, September 15, 2009

Dr Ligoya the Reserve Bank Governor speaks

By Aubrey Mchulu

Economist Perks Ligoya, appointed Reserve Bank Governor on Monday, has described his new role as “a special call to national duty” and said he will work with the existing team to consolidate the economic gains the country has made in recent years.

“It’s not a one man’s job. I will not work as an island and it’s not like I will revolutionise one thing or another,” said Ligoya who, before his appointment by President Ngwazi Dr Bingu wa Mutharika, was treasury economic advisor in the Ministry of Finance.

Ligoya has succeeded Victor Mbewe who resigned from the position on July 14 this year. Ligoya is taking the mantle at a time when the country is facing an acute foreign exchange shortage that is crippling operations of most companies.

Asked to explain how he plans to improve the situation, Ligoya said: “I will do everything that will not depart from the vision of the country.”

He said he will serve the State President to maintain low inflation rates, stable currency, high economic growth rates and food security.

Ligoya thanked Mutharika for the appointment which he dedicated to his colleagues in government machinery.

Ligoya is no stranger to the central bank as his first job after graduating with a Bachelor of Social Sciences (Economics) from Chancellor College, was with RBM from 1981 to 1999 where he was an economist.

The new governor holds four university degrees, including a doctorate in economic policy management obtained in France in 1998. He also holds a Master of Science in International Economics and a Master of Philosophy in Monetary Economics, both from France’s University of Grenoble.

As treasury economic advisor, Ligoya advised the Ministry of Finance on matters related to the Poverty Reduction and Growth Facility, low interest loan offered by the International Monetary Fund (IMF) and led all meetings with the IMF.

Ligoya has previously worked as senior economist at the IMF’s Malawi office in Lilongwe, national programme facilitator for the W.K Kellog Foundation in Malawi and is also a trustee of the Southern African Trust, a multi-donor funded initiative that provides project grants to promote dialogue and policy changes to end poverty in the Sadc region- The Nation, Tuesday September 15, 2009.

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